U.S. House Approves $622 Billion Tax Package

The U.S. House of Representatives on Thursday approved a tax package that would extend tax breaks and credits worth more than $600 billion dollars.

According to The Hill:

The “tax extenders” bill was approved in a 318-109 vote, with 241 Republicans joining 77 Democrats in backing the measure.

Only 3 Republicans voted against the bill, which permanently renews a range of tax provisions following years of short-term extensions while extending other tax breaks through 2016 or 2019.

The House is expected to vote Friday on a $1.1 trillion omnibus spending measure that would fund the government through September 2016.

House Majority Leader Nancy Pelosi (D-CA) said Thursday that she’s unsure whether the omnibus bill will pass. She said that she intends to vote for the massive bill, but doesn’t think enough Democrats will join her to vote for it.

Democrats have expressed their outrage over the provision in the bill that lifts the ban on exporting U.S. crude oil. Republicans were able to lift the ban, in exchange for allowing $500 million to go to the United Nation’s climate fund.